China to Clamp Down on Internet Giants

Arthur T Knackerbracket has found the following story:

China has proposed new regulations aimed at curbing the power of its biggest internet companies.

The regulations suggest increasing unease in Beijing with the growing influence of digital platforms.

The new rules could affect homegrown tech giants like Alibaba, Ant Group and Tencent, as well as food delivery platform Meituan.

The move comes as the EU and the US are also seeking to curb the power of internet giants.

Chinese tech shares were sharply lower after the proposed regulations were released on Tuesday.

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